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Why do managers need to know about research methods and statistical analysis?
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∙ 16y ago
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∙ 16y ago
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What is Importance of operations research in decision making?
Operations research is a scientific discipline that managers use to make informed decisions for their operations. It draws heavily from math, statistics and science. Operations managers use this extensively to schedule and assemble their production functions. Operations research is primarily used in the manufacturing, oil, energy and telecommunication industries.HistorySignificanceOperations research was first developed in the 1940s, during and after World War II. FeaturesCompanies use operations research to devise ways and means to maximize their profits and restrict their losses and risks. The company is able to zero down on the most optimum levels of production. Also, they devise means to produce at lower costs or produce more quantities at the same costs. BenefitsThe operations manager is able to evaluate the various available routes for production and fix the most feasible and practical one. He tries to derive the maximum output with the minimum possible input. LimitationOperations research is very beneficial to the managers in deciding what to produce, the quantities, the methods of production, which employees to engage in the production processes and the marketing schemes of the produced goods.The main limitation of operations research is that it often ignores the human element in the production process. This science is technology driven and does not take into account the emotional factors and absenteeism of the employees.
What key roles does the PMBOK Guide have in the project management profession?
It guides project managers by providing them with methods that are considered best practiceIt documents the project management principles of PMI
Why must the business manager understand the importance of business research and how it is used in the organization?
Business managers must understand the importance of business research because can stimulate new ideas, it can help solve problems that may have plaque the company, and help with making decisions that may have otherwise be hard to make without concrete facts. In addition, to why business research is important to a company is that research can help the company be effective and achieve the very best performance. Business research is used in organization by a set of guidelines that can help establish the best way to get more information on inquire and solve problems that are systematic. Some times when conducting research depending on certain circumstances all or a few of the methods may not be used. The overall goal is achieved then the information is presented and results follow. The principles of the scientific methods are a clear purpose, the process is detailed, there is extensive planning, ethical standards applied, limitations are explained, trying to meet the desired needs without corruption of variables, present finding without prejudice, justified conclusion, and any experience. Scientific method is important in business research because it is structured, it show why certain tasks should be done, and why it would be beneficial to conduct the method. The method helps come up with some type of justification for why there is a problem and what things need to be done.
How does a company know about performance management?
Performance Management is the tracking of the performance of its employees to ensure progress towards a desired goal. There are several different methods by which a company can monitor this progress. Central to all methods however is the establishment of a goal and feedback of progress towards that goal from management either in the form of individual employee analysis or staff coaching.
What are the basic project management functions?
Project Management Functions in Facility Owners' Environment: Organizational Diagnostics Project management is a method to ensure project be delivered on time. So the function of project manager is to execute (sometimes enforce) that methods. Like all managers it involves not only competency but soft skill.
Why do managers need to know statistical methods?
because there are projects that include statistical methods.
When was Statistical Methods for Research Workers created?
Statistical Methods for Research Workers was created in 1925.
What has the author S Selvin written?
S. Selvin has written: 'Biostatistics' -- subject(s): Biometry, Medical Statistics, Medicine, Research, Statistical methods, Statistics 'Statistical analysis of epidemiologic data' -- subject(s): Data Interpretation, Statistical, Epidemiologic Methods, Epidemiology, Statistical Data Interpretation, Statistical methods 'Statistical tools for epidemiologic research' -- subject(s): Statistical methods, Epidemiology, Epidemiologic Methods 'Modern applied biostatistical methods using S-Plus' -- subject(s): Biology, Biometry, Data processing, S-Plus
How is an epidemic determined mathematically?
An epidemic can be determined mathematically by using statistics. Statistical methods can be utilized for analysis and is often implemented for research.
What has the author Andrew F Hayes written?
Andrew F. Hayes has written: 'The Sage sourcebook of advanced data analysis methods for communication research' -- subject(s): Communication, Research, Statistical methods
What has the author Chandan Mukherjee written?
Chandan Mukherjee has written: 'Data analysis in development research' -- subject(s): Statistical methods, Social sciences, Research 'Optimal strategy for replantation of coconut trees in Kerala' 'Econometrics and data analysis for developing countries' -- subject(s): Statistical methods, Econometric models, Econometrics, Social sciences
What has the author Neal W Chilton written?
Neal W. Chilton has written: 'Design and analysis in dental and oral research' -- subject(s): Dentistry, Experimental design, Research, Statistical methods 'Analysis in dental research' -- subject(s): Dentistry, Statistics
What has the author Xiao-hua Zhou written?
Xiao-hua Zhou has written: 'Statistical methods in diagnostic medicine' -- subject(s): Statistical methods, Diagnostic Techniques and Procedures, Medicine, Medical statistics, Statistical Data Interpretation, Research 'Statistical methods in diagnostic medicine' -- subject(s): Statistical methods, Diagnostic Techniques and Procedures, Medicine, Medical statistics, Statistical Data Interpretation, Research
What are the various methods one can use to identify the shape of data distribution collected for research study?
Statistical data analysis is one of the various methods one can use to identify the shape of date distribution collected for a research study. Along with data analysis, one could also used a histogram.
What has the author Anatoly Lisnianski written?
Anatoly Lisnianski has written: 'Multi-state system reliability analysis and optimization for engineers and industrial managers' -- subject(s): Statistical methods, Reliability (Engineering)
What has the author Jacob Cohen written?
Jacob Cohen has written: 'Statistical power analysis for the behavioral sciences' -- subject(s): Probabilities, Social sciences, Statistical methods, Statistical power analysis
What is the importance of statistical methods in business?
statistical methods are the kind of tools to extract knowledge from data and provide managers with more confidence in dealing with uncertainty in spite of the flood of available data.
